Stock News Buzz: Sierra Oncology (NASDAQ:SRRA) closed its previously announced underwritten public offering

On Tuesday Sierra Oncology (NASDAQ:SRRA) stock traded volume of 4424598 shares during its last trading session as compared to its average volume of 758911 shares over the recent month. SRRA ended its day with the up stream along the move of 10.27% and closed at the price of $0.28 before opening at $0.27. It has total market capitalization is $20772184. 52week range of the stock remained $ 0.22 – 2.01 while its day lowest price was $0.25 and its hit its day highest price at $0.28.

Sierra Oncology (NASDAQ:SRRA) a late-stage drug development company focused on the development and commercialization of momelotinib, a JAK1, JAK2 & ACVR1 inhibitor with a potentially differentiated therapeutic profile for the treatment of myelofibrosis, reported that it has closed its previously announced underwritten public offering, with gross proceeds to Sierra Oncology of $103 million.

Following the closing of this offering, Mr. Robert Pelzer, who has served as a member of the company’s Board of Directors since May 2015, has been appointed as the Chairman of the Board of Directors. Sierra Oncology has also appointed Dr. Gaurav Aggarwal, Dr. Josh Richardson, Dr. Mona Ashiya and Dr. Andrew Sinclair to the Board of Directors, each of whom are affiliated with investors in the offering. In addition, Mr. Donald Parfet, Dr. Daniel Estes, Dr. Nicole Onetto and Mr. Tran Nguyen have resigned from the Board of Directors. The foregoing appointments and resignations were effective as of November 22, 2019.

It is a pleasure to welcome these outstanding individuals to our Board of Directors. Their support and guidance will be invaluable as we focus on executing the recently launched MOMENTUM Phase 3 trial of momelotinib and prepare the groundwork for our potential transition to a commercial entity, said Mr. Robert Pelzer. We would also like to sincerely thank our outgoing members for their service and dedication to the company. In particular, we are extremely grateful to Don Parfet, who has served as Chairman of our Board of Directors since the company’s inception in 2003, for his thoughtful leadership and unwavering dedication to Sierra Oncology.

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